Pharma Industry - Navigating Corruption and False Claims Act Issues to Minimize Legal and Regulatory Risks in an Expanding Global Industry
In recent years, the pharmaceutical industry has seen an increase in global expansion, in particular in emerging markets. As pharmaceutical companies seek opportunities abroad, they are subject to ever increasing legal risks and regulatory scrutiny. One of the biggest risks pharmaceutical companies are confronted with today is in the area of global corruption. In addition, they have been and will continue to be challenged by governmental authorities over potential anticompetitive conduct. In 2015-2016 alone, the U.S. Securities and Exchange Commission (SEC) took action under the Foreign Corrupt Practices Act (FCPA) against seven companies in the healthcare and pharmaceutical industry resulting in settlement charges in the millions of dollars. The SEC has identified the pharmaceutical industry as a high-risk industry for FCPA violations.
The industry has also witnessed an increase in False Claims Act scrutiny.
Pharmaceutical companies must be aware of these issues in order to develop policies and practices to mitigate risks. White & Case experts in these topics will be presenting on these issues and addressing the potential risks that US and non-US pharmaceuticals companies face.
·The FCPA's expanding reach
·Use of third party intermediaries, distributors and vendors
-False Claims Act Issues in Pharmaceutical industry
·Compliance / Internal Controls - How to mitigate risks
·Lessons learned and key takeaways
·What the future holds
This event is co-hosted by the ACCJ and the European Business Council (EBC), the European Federation of Pharmaceutical Industries and Associations (EFPIA) and the Pharmaceutical Research and Manufacturers of America (PhRMA).
John Carlson, Chair
ACCJ Healthcare Committee
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